The global bulk material handling products and technologies market is highly fragmented and competitive in nature. Due to the low degree of product differentiation, the competition is likely to intensify over the forecast period, says TMR in a new study. “However, big companies are coming up with new innovations and technologies to distinguish themselves from other manufacturers and create brand loyalty among their buyers,” says the author of the report. Some of the key companies in the market are ThyssenKrupp, Metso, FL Smidth & co, and Tenova.
The valuation of the global bulk material handling products and technologies market was US$58.86 bn in 2015 and is estimated to rise to US$62.36 bn by 2020, expanding at a 1.2% CAGR between 2014 and 2020. On the basis of end-users, mining companies will continue to dominate the market until 2020, representing 29.38% of the overall market revenue. The sawmills segment is expected to rise at a significant CAGR over the forecast period.
Europe to Remain Front-runner in Market
Europe will continue to be the leading regional market for bulk material handling products and technologies by revenue until 2020. The growth of this regional market can be attributed to the increasing spending in the construction of domestic infrastructure, and higher investments from foreign multinational power projects. Due to the increasing demand for higher capacity in plants and rising demand for bulk equipment in the industrial sector, the Asia Pacific market is anticipated to expand at a 1.3% CAGR during the same period.
Rising Penetration of Automation in Manufacturing Industries to Drive Demand for Bulk Material Handling Products
The growth of the industrial infrastructure and construction sectors in developing nations such as India, China, and Indonesia is driven by the huge expenditure allocation for expansion and building of new capacity for existing plants. Moreover, in these nations, an increase in investments from foreign multinational in domestic infrastructure construction and power projects has been witnessed over the past few years. These trends are, collectively, driving the global bulk material handling products and technologies market.
The growing need for automation in the manufacturing industries is creating a significant demand for bulk material handling products as they form an integral part of carrying out the automation process. Furthermore, the increasing implementation of mass production methodology and assembly line concept is fuelling the growth of the market.
High Initial Investments to Limit Deployment in Manufacturing Companies Facing Budgetary Constraints
The high level of initial investment required for the deployment of bulk material handling products is restricting manufacturing companies from investing in them. “Companies facing budgetary constraints are purchasing used bulk material handlers instead of new equipment,” says a TMR analyst. This factor is hampering the overall revenue generation of the market. Another factor restraining the growth of the bulk material handling products and technologies market is the sluggish technological penetration in Asia Pacific and Rest of the World. Many developing countries are still lagging behind in automation and other advanced technologies in the manufacturing process.
However, the rapid growth of the pharmaceutical and food and beverage sectors across the world is likely to augur well for the growth of the global bulk material handling products and technologies market. The increasing manufacturing of products to meet consumers’ demand is boosting the demand for conveyor belts, stackers, elevators, movers, and other bulk material handling products in these industries.
The information presented in this review is based on a Transparency Market Research report, titled, “Bulk Material Handling Products and Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
The report segments the global bulk material handling products and technologies market as:
Bulk Material Handling Products and Technologies market, by Types:
- Powder Materials
- Others (including iron ores, wood chips and coal, etc.)
Bulk Material Handling Products and Technologies market, by End Users:
- Oil and Gas
- Agricultural Farms
- Paper Mills
- Others (including construction and pharmaceuticals)
Bulk Material Handling Products and Technologies market, by geography:
- North America (the United States, Canada, Mexico)
- Europe (United Kingdom, Germany, France, Italy)
- Asia Pacific (China, India, Japan, Taiwan, South Korea)
- Rest of the World (South America, Middle East, Africa)
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